I-3 - Taxation Act

Section 725.3 Disposition versions

2006-03-01

725.3. An individual may deduct an amount equal to 25% of the amount of the benefit he is deemed to have received in the year under section 49, by virtue of section 49.2, in respect of a share acquired by him after 22 May 1985, if

(a)  the individual has not disposed of the share otherwise than as a consequence of his death or exchanged the share within two years after the date he acquired it; and

(b)  the individual has not deducted an amount under section 725.2 in respect of the benefit deemed received in computing his taxable income for the year.

1987, c. 67, s. 141; 1988, c. 18, s. 123; 1990, c. 59, s. 252; 2003, c. 2, s. 197; 2004, c. 21, s. 104; 2005, c. 23, s. 62.